The Finance Company shall develop an internal corporate governance rules and implement a specific regulation for corporate governance and provide SAMA with a copy of the regulation after its approval by the Board. The corporate governance code shall at least address the following:
| | 1. | The description of the organizational structure, including all departments and functions and their tasks and responsibilities; |
| | 2. | Independence and separation of duties; |
| | 3. | Roles of the Board, its committees, and the composition and duties of each. |
| | 4. | Remuneration and compensation policies; |
| | 5. | Conflict of interest controls; |
| | 6. | Integrity and transparency controls; |
| | 7. | Compliance with applicable laws and regulations; |
| | 8. | Methods for securing confidentiality of information; |
| | 9. | Fair dealing; and |
| | 10. | Protection of Company’s assets. |
